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US crude inventories fall over 6 million barrels
The Energy Information Administration reported today that the US crude inventories fell 6.4 million barrels to 417.4 million barrels during the past week, while analysts forecast a drop by 3.5 million barrels.
Gasoline stocks fell 1.9 million barrels to 218.1 million barrels, and the distillate stocks fell 1.7 million barrels to 131.9 million barrels.
While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories fell 5.4 million barrels during the same period.
US stocks edge higher after the release of economic data
The major US stock indices opened higher on Wednesday, after the release of the US industrial production data.
MoreDollar falls ahead of US industrial data
The US dollar fell against a majority of rivals on Wednesday, on track for the first loss in 4 days, due to slow demand, following after weak data, ahead of the US industrial production data.
MoreOil hits 6-week high ahead of EIA's weekly report
Oil prices continued to rise as the US market opened on Wednesday, for the third day in a row, and hit a 6-week high, after the release of preliminary data on US crude inventories that showed a drop, and ahead of the EIA's weekly report.
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